Allica Bank signs with Wise for cross-border money transfers

Wise Platform, Wise's global payment infrastructure for banks and major enterprises, today announces a new partnership with Allica Bank to provide UK businesses with a transparent and low-cost way to send money internationally.

Allica Bank - a challenger bank specifically focused on serving established businesses with 10-250 employees - entered into the partnership to enable their customers to make global payments directly and seamlessly to 160 countries supported by Wise*.

This is a significant step for Allica’s business customers with ambitions to expand and operate internationally, allowing them to use their current accounts to send international payments with transparent fees and no exchange rate markups.

The Wise Platform integration means that Allica customers can complete the whole process of making an international payment quickly and conveniently within their own banking app. Customers will know upfront the total fees for making an international payment and be able to guarantee the exact amount is received by their recipient.

Nida Sattar, Head of Product - Payments, Allica Bank said, “Partnering with Wise Platform provides our business current account customers with an even broader range of tools to help their business thrive. Our mission is to give established businesses the banking they deserve, and this integration with Wise Platform means our customers can spend more time focusing on their business, rather than the complexity and hidden costs associated with international payments.”

Steve Naudé, Head of Wise Platform added, “Our partnership with Allica Bank is a significant step forward bringing streamlined cross-border payments to more businesses across the UK. Nowadays, pace and reliability are essential for both individuals and businesses and our partnership will ensure customers have access to quick, low-cost, and secure international transactions.”

Wise Platform currently has over 70 partners, including banks and enterprises, enabling them to integrate the power of Wise into their existing infrastructure, ensuring they can embed the best way to send, receive and manage money internationally.

*Outbound payments in Euros only.

By on Mon, 04 Dec 2023 12:21:00 GMT
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